FHA

HUD: FHA Expands Home Retention Measures for Homeowners Financially Impacted by COVID-19

Streamlined loss mitigation options will help more homeowners avoid foreclosure   The Federal Housing Administration (FHA) today announced additional home retention measures to help homeowners with FHA-insured single family mortgages who are financially impacted by the COVID-19 pandemic to bring their mortgage current at the end of their COVID-19 forbearance. Effective immediately, mortgage servicers will be able to…

HUD: Eviction Prevention and Stability Toolkit Released in Latest COVID-19 Response Effort

Toolkit is the most recent effort by the Department to identify individuals who have felt the economic impact of Coronavirus and provide a range of resources to support housing stability U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced the “Eviction Prevention and Stability Toolkit” to encourage Public Housing Authorities (PHA)…

HUD: FHA Extends Foreclosure and Eviction Moratorium for Single Family Homeowners for Additional Two Months

Extension Through August 31, 2020, Provides More Security for Homeowners Impacted by the Coronavirus Outbreak Today, the Federal Housing Administration (FHA) announced a two-month extension of its foreclosure and eviction moratorium through August 31, 2020, for homeowners with FHA-insured Single Family mortgages. This extension provides additional security and peace of mind to homeowners that they will not…

HUD: Celebrating National Homeownership Month 2020

President Trump issues Proclamation establishing June as National Homeownership Month  This week, the U.S. Department of Housing and Urban Development (HUD) marks the beginning of Homeownership Month 2020 – a time of year when HUD, the Federal Housing Administration (FHA) and others recognize the importance of homeownership and its impact upon the lives of American…

HUD: FHA Announces Temporary Guidance for Insuring Single Family Homes in Forebearance

Temporary policy provides FHA insurance safeguards for borrowers and lenders  Today, the Federal Housing Administration (FHA) announced a new, temporary policy that provides guidance for lenders to obtain FHA insurance endorsements on mortgages where the borrower has requested or obtained a COVID-19 forbearance. This policy will ensure that the safeguards of the FHA program continue to work…

HUD: FHA Extends Foreclosure and Eviction Moratorium; Remote Work Flexibilities for Lenders and Appraisers

Extensions Through June Provide Peace of Mind to Struggling Homeowners While Supporting New MortgageOriginations During COVID-19 Recovery Today, the Federal Housing Administration (FHA) announced an extension of its foreclosure and eviction moratorium through June 30, 2020, for homeowners with FHA-insured Single Family mortgages, while also supporting new FHA-insured mortgage originations through an extension of temporary policy flexibilities for lenders…

HUD: New CAREs Act Mortgage Payment Relief Issued for FHA Single Family Homeowners

Mortgage servicers instructed to offer deferred or reduced mortgage payments by as much as 6 months to start. The U.S. Department of Housing and Urban Development today announced a tailored set of mortgage payment relief options for single family homeowners with FHA-insured mortgages who are experiencing financial hardship as a result of the COVID-19 National…

HUD: New Incentive Package Announced for Purchase or Rehabilitation of Single Family Properties in Opportunity Zones

FHA policy announcement will encourage purchase and rehabilitation of homes in distressed neighborhoods   U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced that the Federal Housing Administration (FHA) will offer a new incentive for borrowers interested in rehabilitating homes in Opportunity Zones. FHA is effectuating this through an expansion of its Limited…

HUD: FHA Releases 2019 Annual Report to Congress

MMI Fund Capital Ratio continues to exceed the statutory minimum – strongest since 2007  The Federal Housing Administration (FHA) today released its 2019 Annual Report to Congress on the economic condition of the agency’s Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end of Fiscal Year (FY) 2019, The FHA MMI Fund Capital Ratio…

HUD: Justice Department and HUD Sign Interagency Memorandum on the Application of the False Claims Act

Agreement Fulfills Key component of HUD Housing Finance Reform Plan U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr today issued a Memorandum of Understanding (MOU) between the two agencies that sets prudential guidance on the appropriate use of the False Claims Act (FCA) for violations by Federal Housing Administration…